trending Market Intelligence /marketintelligence/en/news-insights/trending/-COxlBDFvmPhDKGR8MpSOQ2 content esgSubNav
In This List

CASH Financial fintech unit to raise US$5M in share sale

Blog

Banking Essentials Newsletter: January 11th Edition

Blog

Banking Essentials Newsletter December 21st Edition

Blog

The Road to Basel IV: Navigating the challenge facing European banks

Blog

Basel Framework- Utilizing data to analyze the capital position of European banks.


CASH Financial fintech unit to raise US$5M in share sale

CASH Financial Services Group Ltd. fintech unit Weever FinTech Ltd. agreed to issue new shares to Higgs Block Technology Pte. Ltd. for US$5 million.

The 500,000 new shares represent 5% of the issued share capital of Weever FinTech, according to a June 11 release.

After completion, CASH Financial Services Group will hold a 76.10% stake in Weever FinTech, while Celestial Asia Securities Holdings Ltd. will hold an 18.90% stake. Higgs Block will own a 5% stake.

The deal is expected to be completed Oct. 30.

Funds from the share issue will be used for the development of Weever FinTech's digital assets brokerage services business.